By Douglas Busvine and Tom Sims FRANKFURT (Reuters) – Top managers at Deutsche Bank will forego their annual bonuses, CEO John Cryan said, after coming under fire for awarding big incentive payouts even though Germany’s largest bank lost money last year. Cryan was quoted by the Zeit weekly as saying the 12-member executive board would not get bonuses for 2017, but variable compensation would be paid to other staff as planned. At a Zeit event at the South by… (Continua a leggere)

By Piotr Skolimowski and Steven Arons Source: Bloomberg.com CEO Cryan tells Zeit newspaper employees to get 2017 bonuses Worker payout pool to top $2.5 billion for 2017, person says Deutsche Bank AG management waived its bonuses for a third consecutive year while the German lender is boosting payouts for bankers and traders despite reporting a loss for 2017. The 12-member board won’t get variable compensation for 2017, a Deutsche Bank spokeswoman said Saturday, confirming comments by Chief Executive Officer John… (Continua a leggere)

By Hannah George Source: Bloomberg.com A Commerzbank AG executive accused the bank of discriminating against her when she returned from pregnancy leave, saying colleagues created a “hostile environment.” Jagruti Rajput, a senior compliance advisor at the bank’s London branch, says that during her maternity leave she was “discouraged from attending at meetings, I was joked about, and my I.T. access was disabled,” according to her witness statement. She’s suing the bank in a London employment tribunal. The bank denies discriminating against… (Continua a leggere)

By Nicholas Comfort With assistance by Donal Griffin Source: Bloomberg.com Hard-to-value holdings could affect EU banking union plans French, German banks have biggest piles of Level 3 assets European Central Bank President Mario Draghi turned a spotlight on banks’ riskiest assets when he said they need to reduce their holdings of hard-to-value investments. A decade after the financial crisis, lenders in the region are still sitting on billions of dollars of illiquid holdings that could include the kind of mortgage-backed bonds… (Continua a leggere)

By Alessandro Speciale and Aaron Eglitis Source: Bloomberg.com Latvian Governor Ilmars Rimsevics returned to work on Monday Crisis may prompt questions at Thursday ECB press conference For all his influence on the wider European economy, Mario Draghi is finding out that he has little sway in fixing a much more local problem. Almost two weeks after a member of his Governing Council was briefly detained for bribery and extortion, the European Central Bank president still has few options available to address a… (Continua a leggere)

La Riflessione

You’ve probably heard of foreign businesspeople who have had great success in Japan, such as Carlos Ghosn, the former chairman of Nissan Motor. But you might not know about an American investor who has played a key role in advising the Japanese government on reforming the corporate sector. In July 2014, Scott Callon, CEO of Ichigo Asset Management, received a call from Japan’s Financial Services Agency (FSA) and was summoned for a meeting. Callon was filled with anxiety. After all,… (Continua a leggere)